Terms and conditions related to the monthly bookkeeping services.
The services described in this Engagement Letter will commence upon the date specified in the approved Recurrent Service Order, initiated by your click on the 'AUTHORIZE' button. We will then proceed with the Monthly Bookkeeping. Both SAFETY TAX and the customer acknowledge that the customer holds sole responsibility for the presented information and must thoroughly review it beforehand.
SAFETY TAX does not undertake the responsibility to review or audit the provided information for potential errors in the customer's statements. Our responsibility lies in receiving the information and preparing the bookkeeping.
The client acknowledges their responsibility, as outlined in this Engagement Letter, to establish and execute control measures ensuring the accuracy of the information submitted to SAFETY TAX. This helps prevent errors or omissions that could impact the accuracy of the client's bookkeeping. Furthermore, by accepting this Engagement Letter, the client agrees to identify and ensure compliance with relevant laws and regulations of the United States and the state where the company is registered.
SCOPE AND LIMITATION OF OUR SERVICES:
In this Engagement Letter, SAFETY TAX does not undertake the responsibility of actively searching for errors, irregularities, or illegal activities, such as fraud or misappropriation. However, we commit to informing the client about any material errors, irregularities, or illegal activities that come to our attention, unless they are clearly irrelevant. To fulfill this commitment efficiently, unrestricted access to all documents related to the client’s financial transactions, including sales invoices, POS receipts, or any other necessary information for bookkeeping preparation, is required.
The services defined in this Engagement Letter will be conducted and billed on a monthly basis upon prior authorization via our service order. It's important to note that this Engagement Letter does not encompass business management, revision of provided information, or auditing of the presented figures. If any amount appears unusual, we'll bring it to the client's attention. However, we do not assume responsibility for uncovering errors, irregularities, or fraud.
Our work does not involve auditing the client's figures. It is the client’s responsibility to ensure the accuracy of the provided information. We won’t verify the data submitted for accuracy or completeness, as the client is the sole entity knowledgeable about the numbers and information to be reported. Therefore, we rely on the accuracy and completeness of the information or documents provided by the client to SAFETY TAX.
SAFETY TAX will provide feedback on the completion, preparation, and recording of the provided information. For us to perform the services outlined in this Engagement Letter, all applicable information must be provided electronically in the first week of the following month.
We will not request or accept original or physical copies of any documents to perform the services outlined in this Engagement Letter. All documents received must be submitted through a specific system provided by SAFETY TAX to the client. Should an original physical document be necessary, SAFETY TAX will communicate this need and retrieve only the requested copies.The bookkeeping services provided by SAFETY TAX include:
• Monthly reconciliation of checking accounts with bank statements to close the monthly accounting and identify possible errors.
• Review, analysis, and reconciliation of general ledger accounts for accuracy, discussing any unclear items.
• Recording of cash receipts/income from daily cash reports or bank deposits.
• Preparation and recording of all necessary journal entries for accurate accounting records.Preparation and presentation of Financial Statements.
The client is responsible for adopting sound accounting policies, maintaining an efficient accounting system, safeguarding assets, authorizing transactions, and retaining supporting documentation. Additionally, they are accountable for overseeing management decisions and functions, evaluating service adequacy, and ensuring compliance with laws and regulations.
Moreover, it is the sole responsibility of the client to maintain records of all receipts and disbursements and to retain all supporting documents for potential future audits. The client holds the exclusive responsibility for safeguarding and storing these documents.
The client is also responsible for providing various documents, including cash receipt reports, disbursements, bank statements, tax returns, articles of incorporation, partnership agreements, purchase/lease contracts, loan agreements, and a detailed list of company assets.
To efficiently fulfill our engagement, we require unrestricted access to specific documents and information about your company's financial transactions, including basic documents reflecting financial activities, details of assets and liabilities, and any other pertinent financial information necessary for accounting records, trial balance, and tax returns. Identification of all cash receipts and information on transactions conducted in cash are also essential.
According to this Engagement Letter, SAFETY TAX aims to provide bookkeeping services and offer a 20-minute monthly video or teleconference meeting for the Client to address any inquiries about the monthly outcomes. This meeting is non-cumulative and intended to assist in resolving doubts relevant to the services outlined in this Engagement Letter.
Both parties acknowledge that any additional meetings requested by the Client, even if part of this document's scope, will be considered consultancy. As such, SAFETY TAX reserves the right to charge for these meetings at its discretion.
OUR FEES POLICY:
The monthly service fee outlined in this Engagement Letter factors in the number of financial accounts, accounting analysis by class (in accordance with local legislation), and scrutiny of entries in each financial account (such as bank accounts, savings accounts, credit cards, PayPal, cash on hand, Property Management accounts, etc.) to gauge the volume of transactions (both debits and credits) in each account. This fee reflects the scope and complexity of the bookkeeping services provided.
The Client has the responsibility to monitor the fees paid to Safety Tax for the contracted service. Additionally, the Client may, upon written request and every calendar quarter (March – June – September – December), readjust their service plan to better align with the company's needs.
Safety Tax undertakes to inform the Client, 30 days in advance of all readjustments, price changes or conditions relating to the table that is part of this document.
PERIODICITY OF ADJUSTMENTS:
Yearly. Coming into effect on January 1 of each year.
GENERAL CONSIDERATIONS ABOUT SERVICE PACKAGES:
The pricing for the bookkeeping service considers specific factors:
• The number of financial accounts
• Segmentation by business activity; for instance, certain activities like Short Term Rentals or Transport Carriers may incur an additional fee per property or truck due to local tax return filing regulations.
• Count of monthly transactions (both inflow and outflow) across all accounts.
Each package offers a set number of transactions per month, not carried over to subsequent months.
Every month, EzControl, our system at Safety Tax, audits each financial account, assessing its movements. The actual volume verified is compared to the chosen package. Additional movements are separately charged to offer complete transparency to the customer. Invoices include a detailed report on the services provided, specifying:
• The contracted package
• Number of financial accounts
• Extra entries
Our service fee, as outlined in this Engagement Letter, is non-refundable and charged monthly. Invoices are due upon receipt, regardless of whether the necessary information for bookkeeping has been provided by the customer.
If essential information for bookkeeping isn’t submitted within 60 days following the end of the specific month's preparation (e.g., January's data before March 31st), SAFETY TAX reserves the right to charge double for that month's service. It's important to emphasize that client payment for the monthly service does not exempt the obligation to provide necessary supporting documents. Failure to provide these documents within the stipulated timeframe will result in additional charges to fulfill the service due to incomplete information. SAFETY TAX will not be held responsible for any penalties resulting from the delayed completion of the contracted service.
The Client agrees that our liability is limited to instances where it is conclusively proven that our services were performed inadequately, despite receiving all necessary documents. Furthermore, the maximum liability for any reason related to the services provided shall be capped at the total amount of the last two monthly basis fees paid by the Client, as specified in this Engagement Letter.
The client has the right at any time to terminate our services upon written 30 days’ notice. Such termination shall not, however, relieve the clients of the obligation to pay for all services already rendered, including work in progress and remaining incomplete at the time of termination, and to pay for all expenses incurred on behalf of the clients through the date of termination. Additionally, the client agrees to pay an additional fee equivalent to one month's service charge to cover the effort in compiling and providing all necessary documentation upon request.
BINDING EFFECT, ARBITRATION:
This agreement takes effect upon execution and acceptance by the client in Orange County, Florida. It is considered established and agreed upon in the State of Florida, United States of America, and shall abide by the laws and judgments of the State of Florida, without regard to conflicts of law provisions.
By entering into this agreement, the Client acknowledges that it has proactively sought, willingly accepted, and been served by SAFETY TAX, headquartered in Orange County, Florida.
IN THE EVENT OF ANY CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR THE BREACH THEREOF, THE PARTIES HERETO AGREE FIRST TO TRY AND SETTLE THE DISPUTE BY MEDIATION, ADMINISTERED BY THE INTERNATIONAL CENTRE FOR DISPUTE RESOLUTION UNDER ITS MEDIATION RULES. IF SETTLEMENT IS NOT REACHED WITHIN SIXTY (60) DAYS AFTER SERVICE OF A WRITTEN DEMAND FOR MEDIATION, ANY UNRESOLVED CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT SHALL BE SETTLED BY ARBITRATION IN ACCORDANCE WITH THE INTERNATIONAL ARBITRATION RULES OF THE INTERNATIONAL CENTRE FOR DISPUTE RESOLUTION.
To confirm your agreement with the services and terms outlined in this engagement, kindly click the “AUTHORIZE” button.
By clicking 'AUTHORIZE' on the Service Order generated through our software, you confirm acceptance of our recurring services, inclusive of all terms and conditions specified in this document. This action also grants SAFETY TAX authorization to collect information pertaining to the IP address of the computer used for authorizing the recurring services, comprising the browser name, date, and time of authorization. Once this information is collected, an electronic copy of this document will be sent to the email address you have specified as the official communication channel for SAFETY TAX to correspond electronically with your company.
SAFETY TAX & BOOKKEEPING